The market leader, Altex, registered a double growth rate compared to the market, while that of retailer Flamingo International rose three times faster, due to economic growth and higher buying power.
Best-selling products in H1 were LCD screens, laptops, smartphones, navigation systems, refrigerators and air conditioning systems, according to market players.
“If the real estate, auto and lending markets are declining, this is not true for the retail market,” the President of Flamingo International, Dragos Simion, told Business Standard. Sales through consumer loans right from Flamingo stores are decreasing and this trend is likely to continue, but with no impact on retail, as clients choose other methods of financing, such as credit cards,” Simion said. Some 45 percent of sales were made with consumer credit last year, compared to 35 percent estimated for this year, he added.
Flamingo International registered a 54 percent year-on-year increase in turnover in H1, up to €92.6 million.
